AXA raised its position in Pebblebrook Hotel Trust (NYSE:PEB) by 45.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 790,524 shares of the real estate investment trust’s stock after buying an additional 245,247 shares during the period. AXA owned 1.14% of Pebblebrook Hotel Trust worth $23,091,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of PEB. Westpac Banking Corp raised its stake in shares of Pebblebrook Hotel Trust by 139.9% in the first quarter. Westpac Banking Corp now owns 427,409 shares of the real estate investment trust’s stock worth $12,425,000 after buying an additional 249,265 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Pebblebrook Hotel Trust during the first quarter worth $261,000. American International Group Inc. raised its stake in shares of Pebblebrook Hotel Trust by 5.1% in the first quarter. American International Group Inc. now owns 43,242 shares of the real estate investment trust’s stock worth $1,263,000 after buying an additional 2,104 shares during the period. William Blair Investment Management LLC raised its stake in shares of Pebblebrook Hotel Trust by 1.5% in the first quarter. William Blair Investment Management LLC now owns 456,923 shares of the real estate investment trust’s stock worth $13,347,000 after buying an additional 6,573 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Pebblebrook Hotel Trust by 1.2% in the first quarter. Prudential Financial Inc. now owns 9,858 shares of the real estate investment trust’s stock worth $288,000 after buying an additional 120 shares during the period.
Shares of Pebblebrook Hotel Trust (PEB) opened at 33.50 on Friday. Pebblebrook Hotel Trust has a 1-year low of $23.56 and a 1-year high of $33.50. The stock has a market cap of $2.33 billion, a P/E ratio of 48.55 and a beta of 1.26. The firm’s 50-day moving average price is $31.33 and its 200 day moving average price is $29.85.
Pebblebrook Hotel Trust (NYSE:PEB) last issued its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. Pebblebrook Hotel Trust had a net margin of 8.87% and a return on equity of 4.38%. The firm had revenue of $182.18 million for the quarter, compared to analyst estimates of $184.69 million. During the same quarter in the previous year, the business posted $0.56 EPS. The firm’s revenue was down 7.2% compared to the same quarter last year. On average, equities analysts expect that Pebblebrook Hotel Trust will post $0.87 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.52 dividend on an annualized basis and a yield of 4.54%. Pebblebrook Hotel Trust’s dividend payout ratio is currently 220.29%.
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Several research firms have recently commented on PEB. Evercore ISI lowered Pebblebrook Hotel Trust from a “hold” rating to an “underperform” rating in a research report on Friday, March 3rd. Zacks Investment Research lowered Pebblebrook Hotel Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 8th. Goldman Sachs Group, Inc. (The) began coverage on Pebblebrook Hotel Trust in a research report on Monday, April 10th. They issued a “neutral” rating and a $27.00 price target for the company. Boenning Scattergood reissued a “neutral” rating on shares of Pebblebrook Hotel Trust in a research report on Wednesday, April 12th. Finally, ValuEngine upgraded Pebblebrook Hotel Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $29.33.
In other Pebblebrook Hotel Trust news, CFO Raymond D. Martz sold 12,828 shares of the business’s stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $27.92, for a total value of $358,157.76. Following the transaction, the chief financial officer now owns 178,851 shares in the company, valued at approximately $4,993,519.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jon E. Bortz sold 10,096 shares of the business’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $29.66, for a total transaction of $299,447.36. Following the completion of the transaction, the chairman now owns 664,841 shares in the company, valued at approximately $19,719,184.06. The disclosure for this sale can be found here. Insiders sold a total of 72,912 shares of company stock worth $2,048,812 in the last quarter. 1.90% of the stock is currently owned by company insiders.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is an internally managed hotel investment company. The Company is a real estate investment trust (REIT) that acquires and invests in hotel properties located primarily in cities of the United States. As of December 31, 2016, the Company owned 29 hotels with a total of 7,219 guest rooms.
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